Keybank National Association OH Sells 110,968 Shares of WK Kellogg Co. (NYSE:KLG)

Keybank National Association OH cut its position in WK Kellogg Co. (NYSE:KLG - Free Report) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,814,502 shares of the company's stock after selling 110,968 shares during the quarter. Keybank National Association OH owned about 5.59% of WK Kellogg worth $95,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of WK Kellogg by 11.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock worth $22,308,000 after buying an additional 127,488 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of WK Kellogg by 1,217.5% during the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock valued at $4,210,000 after acquiring an additional 216,236 shares during the last quarter. Royce & Associates LP increased its position in shares of WK Kellogg by 46.0% in the fourth quarter. Royce & Associates LP now owns 105,134 shares of the company's stock worth $1,891,000 after purchasing an additional 33,147 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in WK Kellogg in the fourth quarter valued at approximately $273,000. Finally, Amundi lifted its position in WK Kellogg by 2,471.1% during the fourth quarter. Amundi now owns 119,068 shares of the company's stock valued at $2,142,000 after purchasing an additional 114,437 shares during the last quarter. 95.74% of the stock is owned by institutional investors.

WK Kellogg Trading Down 2.7%

Shares of KLG stock traded down $0.48 on Thursday, hitting $17.43. 255,265 shares of the company's stock traded hands, compared to its average volume of 940,984. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 1.84 and a beta of 0.23. The company's fifty day simple moving average is $16.81 and its 200 day simple moving average is $17.85. WK Kellogg Co. has a one year low of $14.80 and a one year high of $22.21. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.34 and a current ratio of 0.78.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). The company had revenue of $667.00 million during the quarter, compared to analysts' expectations of $677.91 million. WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. The firm's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 EPS. Equities analysts forecast that WK Kellogg Co. will post 1.57 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Friday, May 30th. WK Kellogg's dividend payout ratio (DPR) is presently 103.13%.

Analysts Set New Price Targets

Separately, Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $16.86.

About WK Kellogg

WK Kellogg Co operates as a food company in the United States, Canada, and the Caribbean. It manufactures, markets, and distributes ready-to-eat cereal products primarily under the Frosted Flakes, Special K, Froot Loops, Raisin Bran, Frosted Mini-Wheats, and Kashi brands. The company was formerly known as North America Cereal Co and changed its name to WK Kellogg Co in March 2023.